Aberdeen Group plc Boosts Stake in L3Harris Technologies Inc $LHX

Key Points

• Aberdeen Group plc increased its stake in L3Harris Technologies Inc by 16.1%, owning 22,984 shares worth approximately $4.8 million, after acquiring 3,183 additional shares in the first quarter.
• Analysts have varied opinions on L3Harris Technologies, with Barclays raising its target price to $305 and maintaining an "overweight" rating, while some others have downgraded their recommendations to "hold."
• L3Harris recently announced a quarterly dividend of $1.20 per share, with a dividend yield of 1.7%, and a payout ratio of 53.63%.

Aberdeen Group plc grew its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,984 shares of the company's stock after buying an additional 3,183 shares during the quarter. Aberdeen Group plc's holdings in L3Harris Technologies were worth $4,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of LHX. Brighton Jones LLC grew its stake in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after purchasing an additional 3,001 shares during the period. XTX Topco Ltd purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $381,000. First Trust Advisors LP grew its position in L3Harris Technologies by 6.4% during the fourth quarter. First Trust Advisors LP now owns 271,415 shares of the company's stock valued at $57,073,000 after buying an additional 16,417 shares during the period. MML Investors Services LLC grew its position in L3Harris Technologies by 10.1% during the fourth quarter. MML Investors Services LLC now owns 45,311 shares of the company's stock valued at $9,528,000 after buying an additional 4,148 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after buying an additional 111 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Wall Street Zen lowered L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Susquehanna raised their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada boosted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,138 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $39,236,182.56. This trade represents a 21.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider directly owned 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,199 shares of company stock worth $39,045,071. Insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 1.4%

Shares of LHX stock opened at $275.9770 on Thursday. The stock has a market capitalization of $51.64 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.99 and a beta of 0.77. The company's fifty day simple moving average is $262.64 and its two-hundred day simple moving average is $232.84. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $280.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the previous year, the business earned $3.24 earnings per share. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio is currently 53.63%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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